Securian Asset Management Inc. Trims Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Securian Asset Management Inc. lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,361 shares of the company’s stock after selling 300 shares during the quarter. Securian Asset Management Inc.’s holdings in Live Nation Entertainment were worth $1,083,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after buying an additional 105,648 shares during the period. Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after buying an additional 321,832 shares during the period. Cantillon Capital Management LLC raised its position in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after buying an additional 15,891 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after buying an additional 385,143 shares during the period. Finally, Amundi increased its holdings in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LYV. JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Guggenheim lifted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $119.25 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day moving average price of $139.52 and a 200 day moving average price of $126.41. The company has a market cap of $27.83 billion, a P/E ratio of 43.84, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.